africa's biggest oil producer, nigeria, is in turmoil after election results are contested. >> oil has been systematically disrupted in nigeria for political gain for the entirety of the last decade. this disruption would provide an opportunity to amplify their disruptions. >> nigerian militants capitalize on the boss for russ oil market collapse by disrupting the oil wells, another 5% of the global supply is lost. with 12% of oil supplies disrupted, prices spiral out of control. after just three days, motorists begin panic-buying gasoline. people are forced to seek other means of transport as oil prices increase, truckers protest, block aiding roads. but the price keeps rising. >> we could be well above 130, $140 by the end of it. those are the kinds of prices that triggered the last recession. >> it takes four weeks to reopen the bosphorus. it's already too late. the world plunges into global recession. >> is the united states prepared to deal with another oil shock? the answer is no. is the world economy prepared to deal with another oil shock? the answer is no. >> until we can deve